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NFIB Weekly News

NFIB Weekly News Leading the News

President Trump Signs Five-Week PPP Extension (07/07/2020)

Reuters (7/4, Johnson) reported President Trump on Saturday “signed into law a deadline extension to August 8 for small businesses to apply for relief loans under a federal aid program to help businesses hurt by the COVID-19 pandemic, the White House said.” According to Reuters, “The extension to the Payroll Protection Program (PPP), which was launched in April to keep Americans on company payrolls and off unemployment assistance, gives business owners an additional five weeks to apply for funding assistance plagued by problems.”

The AP (7/4) reported that around $130 billion out of the $660 billion “approved for the program remains eligible for businesses...though demand for the Paycheck Protection Program has pretty much dried up in recent weeks.”

Business Climate

Small Business Owners Worry A Second Shutdown Would Be Devastating (07/07/2020)

CNN (6/30, Sahadi) reported the PPP “is now set to expire on August 8, a short extension from the original June 30 closing date. The winding down of the program this summer comes as coronavirus cases are spiking in dozens of states, calling into question whether state and local authorities will hit the brakes on the economy again.”

Small Business Marketing

CEO Offers Advice To Small Business Owners Struggling During Pandemic (07/07/2020)

Forbes (7/2, Catmull) highlighted several key pieces of wisdom offered by Voya Retirement and Employee Benefits CEO Charles Nelson that small business owners “can consider using to get you through your own business challenges” such as the ongoing coronavirus outbreak. According to the article, Nelson’s mantras for helping him through this time are “not all storms come to disrupt our lives, some are opportunities to clear our path.” Nelson also found industrialist Henry Ford’s mantra that said, “When everything seems to be going against you, remember that the airplane takes off against the wind, not with it” to be helpful.

Wages and Benefits

Trump Says He Backs Additional Direct Payments, Changes To Unemployment Benefits (07/07/2020)

CNBC (7/1, Breuninger) reported on its website that on Wednesday, President Trump “said...that he supports another round of direct payments to Americans – and claimed he wants to give out more money than Democrats have already proposed.” The Washington Examiner (7/1, Krishan) reported Trump said during an interview on Fox Business, “I support it, but it has to be done properly. And I support larger numbers actually than the Democrats, but it’s got to be done properly.”